Thursday, 23 August 2018
Customs Tariff Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation) Bill 2018; Second Reading
That this bill be now read a second time.
The Customs Tariff Amendment (Comprehensive and Progressive Agreement for Trans-Pacific Partnership Implementation) Bill 2018 is the second bill required to implement the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This bill contains amendments to the Customs Tariff Act 1995.
Under this agreement, Australia has committed to reducing customs duties on Trans-Pacific Partnership originating goods over time. Customs duties on the majority of goods will be removed when the agreement enters into force. The remaining customs duties, with the exception of excise-equivalent customs duties, will be progressively reduced over a period of four years.
This bill implements these commitments by creating a new schedule of preferential customs duties for goods determined to be Trans-Pacific Partnership originating goods.
The new schedule of preferential customs duty rates also specifies those goods that are subject to an excise-equivalent customs duty. This is to ensure that these goods are treated consistently with equivalent goods produced in Australia.
This bill also amends several items in schedule 4, to ensure that the scope of these concessional items are maintained.
The amendments contained in this bill complement the amendments to be made to the Customs Act 1901. And this bill, like the one before it, will bring the legislation into the parliament around the TPP-11.
I mention in particular the work of my predecessor, Andrew Robb, and of chief negotiators and staff of the Department of Foreign Affairs and Trade. I also want to acknowledge and thank in particular my very hardworking staff. I'm fortunate to have a terrifically wonderful team of people who have worked with me, and I thank them for their support on this bill, this legislation, as well as all of the other trade agenda that we've had.
I commend the bill to the House.